Lucid's AMP-2 factory is under construction in Saudi Arabia and will start delivering vehicles by Q3 2023, according to statements made by the EV maker's Global VP and Middle East Managing Director at a recent conference.
Faisal Sultan made the announcement in Riyadh during the Saudi Public Investment Fund's private sector forum earlier this month. The forum was held to gather high-ranking executives from companies that the PIF has invested in, and was an excellent opportunity to spread some good news for Lucid. The Saudi PIF is Lucid's largest shareholder, controlling around 60% of the American EV company.
#WATCH: Our first #Saudi assembled car is going to hit the road by September 2023, Faisal Sultan, Global Vice President and Managing Director of @LucidMotors ME, tells Arab News on the sidelines of #PIF_PrivateSectorForum https://t.co/KJgw5LbgQf pic.twitter.com/KgTqwEpEtj— Arab News | Business (@ArabNewsBiz) March 15, 2023
Lucid AMP-2 Factory
Lucid's second factory (after AMP-1 in Casa Grande, Arizona) has been under construction for some time. The idea behind AMP-2 is to localize Lucid production for the region as Saudi Arabia is one of the area's largest car markets. Jobs get created, the Kingdom becomes less dependent on oil money, the PIF secures a nice return on its investment, everybody wins.
AMP-2 will at first be tasked with assembling knock-down car kits shipped over from the States before moving to full-scale production after a couple of years. Lucid started delivering American-made Lucid Airs to the Kingdom on January 1st of this year.
Lucid & Saudi Arabia
Lucid has received a lot of incentives and investments from Saudi Arabia including cash injections, $3 billion worth of grants to build AMP-2 and a deal to supply the Saudi government with up to 100,000 vehicles over the course of the next ten years. Back in January Lucid's stock jumped sharply in value spurred on by rumors that a total PIF buyout was imminent, though nothing has been revealed on this front since.
AMP-1 is also undergoing upgrades and expansions, with a planned total production capacity of 90,000 vehicles per year. A new production line is under construction which will build the forthcoming Lucid Gravity SUV, which is scheduled to arrive some time in 2024.
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James Walker is an Automotive Journalist at Torque News focusing on Lucid Motors. If it's got wheels he's interested, and he's looking forward to seeing what kind of cars the EV revolution brings us. Whether it's fast, slow, new, or old, James wants to have a look around it and share it in print and on video, ideally with some twisty roads involved. You can connect with James on Twitter, Instagram, and LinkedIn.